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Jan 14, 2013
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the consensus is, we need about $4 trillion to stabilize our debt and our deficit. which means we need about $1.5 trillion more. the package that i offered to speaker boehner before we -- before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. and by cin
the consensus is, we need about $4 trillion to stabilize our debt and our deficit. which means we need about $1.5 trillion more. the package that i offered to speaker boehner before we -- before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. and by cin
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Jan 14, 2013
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the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the speaker has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure we are reducing the health care spending, the main driver of the deficit, we can arrive at a package to get this thing done. i am happy to have that conversation. what i will not do is to have that that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you have medicare or medicaid or otherwise/things that the american people do not believe should be slashed that we will threatened to wreck the entire
the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the...
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Jan 18, 2013
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it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we -- we added a new entitlement, obama care, which some, i don't know what that's going to cost. there's some groups, i guess they would call them, if they're too conservative, but trillions and trillions of dollars of additional entitlements that we've just layered over the entitlements we already have. are we at the right level now? is this the perfect level of promises we've made? or would you even go above where we are right now? >> well, i think the problem that we have is that our health care sector is bloated by this enormous private insurance system that we have. this sort of mixed bag of insurance schemes. that makes our he
it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we --...
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Jan 20, 2013
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it will be planned to slowly but surely, what our nation out of debt, deficit, and declined garrett on your behalf, we will insist the democrats who run the rest of washington to the same. this debate is often argued in numbers and figures but it is really about and families like yours that bear the burden of a slow economy. constant uncertainty and. ever-changing government rules chase our jobs and opportunities overseas. when day to day life costs more and jobs pay less, we do not solve the problem by delaying our cattle decision -- spending decisions, raising taxes, or refusing to answer the most pressing economic challenges. with the swearing in of a new congress and the inauguration of president obama, this is an opportunity for a fresh start. government debt affects all of us. republicans will not to to provide a blank check for uncontrolled spending and constant nickel and dime tax increases. we should gut washington's budget, your budget. these are the challenges of our times. we have the guidance of great leaders in the past who have faced tougher challenges than this with gra
it will be planned to slowly but surely, what our nation out of debt, deficit, and declined garrett on your behalf, we will insist the democrats who run the rest of washington to the same. this debate is often argued in numbers and figures but it is really about and families like yours that bear the burden of a slow economy. constant uncertainty and. ever-changing government rules chase our jobs and opportunities overseas. when day to day life costs more and jobs pay less, we do not solve the...
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Jan 15, 2013
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the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in? >> well, i think democrats and republicans alike would like to alter the way the sequestration works. but i hope that nobody's talking about not making good on our commitment to reach the $1.2 trillion. i'm certainly not. and those of us who are concerned on the across-th
the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest...
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Jan 20, 2013
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like a lot of issue we are dealing with, immigration, how we reduce our deficit have strong feelings. we think if you look at the public on some of these measures, i think knute newtown changed the debate. sadly, it took a tragedy like that seeing a lot of people. by the way you democrats and republicans think differently about this issue, post that tragedy. so i think it's going to take a lot of work, it's not going to be easy. but we think we can get to a point, as we said, i think there are 60 votes in the senate, 219 votes in the house, if the process can just play itself out and we can really get votes on some of these things we think. but it's going to be hard work. >> what's -- as far as you're concerned, the window in a second term for a president to get something done? we certainly hear 14, 16 months and then he's kind of in lame duck status. >> i don't believe that let's look at where we are now, not like casting about -- roaming the halls of the house looking for things to do. whether it is deficit reduction, energy, gun control, safety, immigration, these are all stacked u
like a lot of issue we are dealing with, immigration, how we reduce our deficit have strong feelings. we think if you look at the public on some of these measures, i think knute newtown changed the debate. sadly, it took a tragedy like that seeing a lot of people. by the way you democrats and republicans think differently about this issue, post that tragedy. so i think it's going to take a lot of work, it's not going to be easy. but we think we can get to a point, as we said, i think there are...
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Jan 18, 2013
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i didn't think it went far enough with regard to deficit reduction. i didn't think it went far enough with regard to entitlements. so i was a no vote, and i walked into the house that night and the republicans were high-fiving saying they don't have the votes and the democrats were figuring out how they could switch their votes and i said wait a minute, we came in with this president in '92, it was the largest class of women, there were 21 new women, 24 democrats. and the president was on the phone, and he said what would it take? and i said a serious discussion about entitlements, further cuts, and i'll only be your last vote because there had only been two -- in the house as you know, a tie vote goes down. >> sure. >> so i said i'd only be your 218th vote and there had been two votes i knew like this in history. one for the impeachment of andrew johnson and the other one for the draft. >> so -- >> and i said -- and they needed me. but i represented the most -- >> the president needed you, correct? >> correct. >> and the president right now needs dem
i didn't think it went far enough with regard to deficit reduction. i didn't think it went far enough with regard to entitlements. so i was a no vote, and i walked into the house that night and the republicans were high-fiving saying they don't have the votes and the democrats were figuring out how they could switch their votes and i said wait a minute, we came in with this president in '92, it was the largest class of women, there were 21 new women, 24 democrats. and the president was on the...
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Jan 14, 2013
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and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a financial disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here, they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. the last time republicans in congress even flirted with this idea our aaa credit rating was down graded for the first time in our history, our businesses created the fewest jobs of any mont
and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a financial disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here, they can act responsibly and pay america's bills or they can act...
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Jan 14, 2013
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ironically, it added to the deficit. it should not be surprising given all this talk that the american people think washington is hurting rather than helping the country at the moment. they overwhelmingly want us to create more jobs. let's finish this debate. the certainty that our economy and reputation are still second to none. america has a lot to do. we have to boost the wages of those who have -- we have to give our children the best education possible and we have to do everything we can to protect them from gun violence. let me say i am grateful to vice president biden for his work on this issue of gun violence and for his proposals which i will be reviewing today and i will address the next few days. i intend to vigorously pursue. with that, i will take some questions and i will start with julie of a piece and i want to congratulate julie for this new and important job. >> i wanted to ask about gun violence. today marks the one-month anniversary of the shooting in newtown which seem to push the assault weapon ban.
ironically, it added to the deficit. it should not be surprising given all this talk that the american people think washington is hurting rather than helping the country at the moment. they overwhelmingly want us to create more jobs. let's finish this debate. the certainty that our economy and reputation are still second to none. america has a lot to do. we have to boost the wages of those who have -- we have to give our children the best education possible and we have to do everything we can...
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Jan 13, 2013
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it is to pay for additional deficit spending. which i, i agree with you, nobody says we can start balancing our budget immediately. but what republicans are saying is, if you're going to increase the debt burden on our children, at least start working with us to restrain the rate of growth in spending over the next few years so we can start bringing our budget into balance. so we don't totally mortgage our children's future. that's what this debate should be about. >> you are right, it should be about that. we're going to discuss it later in the show. the idea about why we don't have budgets, how we can fix that. senator, thanks for the time to talk to us, we hope we can talk to you more in coming weeks. >> have a great day. >> senator johnson is a republican from wisconsin. he is on the senate budget committee. the fiscal cliff nan senonsense fiscal cliff and the exploding debt. how did we get here? >> we haven't had one in almost four years. >> i could end the deficit in five minutes. >> how? >> you pass a law that says that an
it is to pay for additional deficit spending. which i, i agree with you, nobody says we can start balancing our budget immediately. but what republicans are saying is, if you're going to increase the debt burden on our children, at least start working with us to restrain the rate of growth in spending over the next few years so we can start bringing our budget into balance. so we don't totally mortgage our children's future. that's what this debate should be about. >> you are right, it...
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Jan 19, 2013
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>> at the end of the day, when we deal with this sequester, we deal with deficit reduction, it has to be in a balanced way. we have always said we are willing to support spending cuts. we put our money where our mouth is with the debt ceiling last summer. many of us on the democratic side voted for $1.2 trillion in spending cuts and got a debt ceiling increase. president obama made it very clear we are not negotiating over the debt ceiling again because we have to pay our bills. we have to give certainty to our economy and we have to focus on deficit reduction in a balanced way so we can protect the middle class and working families. >> doesn't this give the progressive movement an opportunity in the next 90 days to really send the message to congress, leave the big three alone? get your money somewhere else? it would seem to me that the republicans are going to go after that in the next 90 days, make the case that the entitlements are really the problem in all of this. this campaign is going to continue on. >> it will, absolutely, continue on. i think we have to acknowledge that medi
>> at the end of the day, when we deal with this sequester, we deal with deficit reduction, it has to be in a balanced way. we have always said we are willing to support spending cuts. we put our money where our mouth is with the debt ceiling last summer. many of us on the democratic side voted for $1.2 trillion in spending cuts and got a debt ceiling increase. president obama made it very clear we are not negotiating over the debt ceiling again because we have to pay our bills. we have...
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Jan 19, 2013
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republicans have taken a pledge, saying they will never raise a dollar in taxes no matter what the budget deficit looks like. he is not why they decided to put the whole u.s. economy at risk if they don't get their way on spending cuts. he is not why the white house partnered with gun legislation, no matter how small, is tantamount to taking away guns, he is not why extreme movements like extreme ideas like going back to a gold standard in the middle of an economic crisis have taken root on the right. this country needs and deserves a better republican party. and there are a lot of people in the republican right now who want a better republican party who are trying to push it there. those people, i think include key leaders in the party, like the house republican leaders this week who are trying to talk their members down from the ledge. they include folks like david brooks who in saying that republicans look deeply unreasonable, they are telling republicans you are being unreasonable. you need to move to the center. the structure of their argument a bit weird, but they're pushing in the right di
republicans have taken a pledge, saying they will never raise a dollar in taxes no matter what the budget deficit looks like. he is not why they decided to put the whole u.s. economy at risk if they don't get their way on spending cuts. he is not why the white house partnered with gun legislation, no matter how small, is tantamount to taking away guns, he is not why extreme movements like extreme ideas like going back to a gold standard in the middle of an economic crisis have taken root on the...
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Jan 15, 2013
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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Jan 15, 2013
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the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of view. the president yesterday talked about having balance had a thing for us democrats, that's the key. there has to be a mixture of spending cut and further revenue. and we need that balance for three reasons. number one, in order to promote economic growth. in my judgment, it followed that comes from cuts in programs, and i will accelerate economic growth. the second reason relates to income inequality. there has been a startling change in the last 20 years really. the middle-class has essentially been stagnant in the figure really is in 2010, 93% of income growth w
the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of...
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Jan 15, 2013
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fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first. then i want to ask a question. >> as climate change threatens the world we leave to our children and good u.s. jobs move overseas, time in the senate ticks by. it keeps ticking by with no results. because the system is broken. but we can fix it. and make the senate work for us again. >> people are stunned when they find out it was not majority vote. that one senator can just stop the process. is it your hope and the hope of cwa that when you do ads like this that the public will put pressure on their senators to reform this and just make it fai
fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first....
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we have a huge spending deficit problem. they were considering for well over a week the notion of just mint inging a trillion dollar c and calling it good. the federal reserve said that's phony. that doesn't work. and the treasury department on saturday said okay, you are right. we won't go that route. we need serious proposals from the president and it is not just the congress. it is -- we got to work together to solve the country's problems. >> let me -- let me split off debt limit here. are you willing to do the debt limit on its own without any -- president say he's not going to negotiate, are you willing to pass a clean debt limit? >> you know, i think passing a clean debt limit is problematic for the american people as well as for the congress and the country. i think that we should find common ground here to look at spending reforms for the long term to gettous a path to reducing debt and deficit. i think we should look at current spending reductions that could take place and in ways we can grow the economy. i would l
we have a huge spending deficit problem. they were considering for well over a week the notion of just mint inging a trillion dollar c and calling it good. the federal reserve said that's phony. that doesn't work. and the treasury department on saturday said okay, you are right. we won't go that route. we need serious proposals from the president and it is not just the congress. it is -- we got to work together to solve the country's problems. >> let me -- let me split off debt limit...
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Jan 18, 2013
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leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some people. >> with the white house refusing to negotiate spending cuts and the democrat controlled senate unlikely to pass a budget as part of a long-term deal to raise the tet ceiling, pat toomey of pennsylvania is reintroducing legislation he says will avert the u.s. from defaulting on the debt. >> we must prioritize three categories of payments. one would be debt service, interest on the debt so we would haven't default. a second would be social curt payment to seniors so they don't worry whether the check is coming or not. the third is pay for the active duty military personnel. >> the white house is
leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some...
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Jan 16, 2013
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this was an open ended question at the top, economy in general at 21%, goes down to the federal budget deficit, dissatisfaction with government, unemployment, taxes, all the way at the bottom is gun. >> the web video which targets basically the president's children, who have secret service protection, as all children of presidents. over the line? >> based on this poll, he should have been apologizing for those children to breaking their piggy banks to pay for the national debt. that's what americans are concerned about. >> i'm asking you about the web video. >> because his children -- >> which children? >> children he had there on display, because his children, his own children, are well protected. joe biden opened up by saying that schools should be a sanctuary. well, he must have this confused, because the president's girls do go to a sanctuary, well-armed there, but most american kids are not protected at all. >> you don't think the president's children should be off limits? >> i think she should be protected and i think our children should be. i have seven school-aged children. i would hop
this was an open ended question at the top, economy in general at 21%, goes down to the federal budget deficit, dissatisfaction with government, unemployment, taxes, all the way at the bottom is gun. >> the web video which targets basically the president's children, who have secret service protection, as all children of presidents. over the line? >> based on this poll, he should have been apologizing for those children to breaking their piggy banks to pay for the national debt....
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Jan 17, 2013
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i'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending today. they penned an op-ed on why the threat of a default ought to be used to force a balanced budget a threat of a debt default. i believe this is completely dead wrong. i think it will lower our credit rating, damage our economy. by the way it's totally unworkable. but we got to talk. joining me now is the co-author of that op-ed. we bring back our friend, cnbc contributor a former bush white house deputy press secretary. let me begin with you mr. nino. i want to cut spending like nobody's business. you mess around with the debt ceiling i'm going tell you, buddy, the whole world, fiscally, economically and politic
i'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending...
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. >> megyn: and my last question for you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and it's not a reduction in baseline, it's a reduction in the rate of growth of spending, which is again suffocating to the private economy and unsustainable over the course of the next several years. >> megyn: one thing we did hear the president reference personally, we heard it from nancy pelosi prior, but the president personally talking about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking for
. >> megyn: and my last question for you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and...
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Jan 16, 2013
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education can be sucked out and your kids can be taught the things that really matter like how the deficit's been destroying the country since january 21, 2009. how zor owes is a hungarian term for class traitor and
education can be sucked out and your kids can be taught the things that really matter like how the deficit's been destroying the country since january 21, 2009. how zor owes is a hungarian term for class traitor and
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. >> i'm willing to compromise and find common ground over how to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix fundamental problems. why do we have to have the debate every three months? >> eric: sure. start with the debt ceiling and how it came about. prior to world war i, everybody was paid. the debt we incurred was paid for through various bonds. world war i to world war ii, fdr got together with the treasury secretary and set let's put a debt ceiling op and they started to borrow money. that amount in 1949 was $45 billion. today, $16.4 trillion. that is 46,400% higher. between 1939 and 1980, we never exceeded $1 trillion in debt. now we push $17 trillion. the problem with the sound bite is president obama was the guy
. >> i'm willing to compromise and find common ground over how to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix...
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Jan 16, 2013
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guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills you pay? we never tried that. i think the president put it so well. this is not a dead beat nation, really. i think common sense is likely to prevail within the republican ranks. i know firsthand, second-hand, but much of the leadership within the house republican caucus, some of them realize the potential consequences. host: if president obama won on the fiscal cliff de
guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others....
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the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second, about a couple of critsims. one longstanding, another more recent. the longstanding one seems to become a truism of sorts that you and your staff are too insular. that you don't socialize enough. and the second, more recent criticism that your team taking shape knit diverse, isn't as diverse as it could be or even was in terms of getting additional voices, gender, race, ethnic diversity. i would like you to address both of those. >> let me take the second one first. you know, i'm very proud in the first four years we had as di
the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second,...
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plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro.
plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies....
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one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue. by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved from winding down the wars in iraq and afghanistan. so we've made progress. we are moving towards our ultimate g
one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards...
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ironically, the whole fiasco actually added to the deficit. so it shouldn't be surprising given all of this talk about the -- that the american people think washington is helping there -- rather than hurting. let's finish this debate. let's give our businesses and the world the certainty that our economy and reputation are still second to none. we pay our bills, we handle our business. and then we can move on because america has a lot to do. we have to create more jobs. we have to boost wages and we have to reach for energy independence. we have to give our children the best education possible and we have to do everything we can to protect them from the horrors of gun violence. let me say i'm grateful to vice president biden for his work on the -- on this issue, gun control violence and for his proposals, that i will be reviewing today and intend to vigorously pursue. >> with that i'm gonna take some questions and i'm gonna start with julie of a.p. and i want to congratulate her for this new important job. >> thank you very much. >> i wanted t
ironically, the whole fiasco actually added to the deficit. so it shouldn't be surprising given all of this talk about the -- that the american people think washington is helping there -- rather than hurting. let's finish this debate. let's give our businesses and the world the certainty that our economy and reputation are still second to none. we pay our bills, we handle our business. and then we can move on because america has a lot to do. we have to create more jobs. we have to boost wages...
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Jan 15, 2013
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. >> obama: so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> bill: so the question -- so why should the president entertain this notion that the debt ceiling which republicans voted for 19 times under george w. bush without a peep, you know, why should he entertain the notion that suddenly this is a matter of big negotiations? >> well, he's trying to say that he shouldn't but unfortunately the house republicans have the majority in congress. unfortunately for him, so when he says he doesn't want to debate it and negotiate over it, he is running up against the fact that people who have the power in the house do want to debate it and that can cause problems. he certainly is pushing this idea here to try to remove this from the realm of what he wants and the american people see as rational debate. he used a lot of words yesterday that were very strong to try to make people see this as what he called an absurd way of
. >> obama: so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> bill: so the question -- so why should the president entertain this notion that the debt ceiling which republicans voted for 19 times under george w. bush without a peep, you know, why should he entertain the notion that suddenly this is a matter of...
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deficit. the president of the united states -- it is laughable that he would talk about republicans not being responsible on debt issues. when this president has been in the white house sin january 20, 2009, and he's yet to do anything significant on social security or medicare. he cut medicare. so he can start a new entitlement program. that's -- not making medicare more sol vent. he doesn't done anything to curb the cost of medical expenses which he said he was going do. he did nothing. he struck back room deals with hospitals, with special interests, and now he's saying republicans are being reckless? no, no. at some point it becomes more reckless to continue raising the debt ceiling without having democrats come forward with a budget, by the president of the united states, coming forward with a plan to save medicare, medicaid, and social security. we had erskine bowles on. he was very clear. steve ratner agrees. zeke emanuel agrees. democrats, good democrats, agree. that medicare and medic
deficit. the president of the united states -- it is laughable that he would talk about republicans not being responsible on debt issues. when this president has been in the white house sin january 20, 2009, and he's yet to do anything significant on social security or medicare. he cut medicare. so he can start a new entitlement program. that's -- not making medicare more sol vent. he doesn't done anything to curb the cost of medical expenses which he said he was going do. he did nothing. he...
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we cannot afford a $4 billion a day deficit and trillion dollar plus deficits every single year. we just cannot afford it. so it requires thoughtfulness and it requires that we are going to have a plan to work through this. i think that that's where we as republicans are headed. >> congresswoman marsha blackburn, thank you for taking the time to talk to us. michael, let me get back to you in this meeting that speaker boehner is going to be having and convince that he's going to have to do to conservative members of his party. how tough a sell job? >> i think it's tough. one reason it's tough, i was struck by the congresswoman's comments. i think there is fundamental disagreement about what it would mean not to just have a clean raising of the debt ceiling. so, in other words, if i heard the congresswoman correctly, i think she was reflecting a sense among some people that you could shut down the government, stop paying some bills, pay other bills, pay interest on the debt, for instance, and we could kind of get through it that way. i think a lot of -- a lot of other republicans,
we cannot afford a $4 billion a day deficit and trillion dollar plus deficits every single year. we just cannot afford it. so it requires thoughtfulness and it requires that we are going to have a plan to work through this. i think that that's where we as republicans are headed. >> congresswoman marsha blackburn, thank you for taking the time to talk to us. michael, let me get back to you in this meeting that speaker boehner is going to be having and convince that he's going to have to do...
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don't worry about it, it will work itself down the line and don't worry about the mounting debt and deficit. >> that's then and this is now. a debt as you pointed out 16.4 trillion dollars and rising constantly. we need a restraint on that debt. we cannot let it run away constantly. the and the debt ceiling is a restraint. what the democrats want is a blank check. i'm not sure it's constitutional because congress rules on the issue of money, not the executive branch. so, i'm not sure the constitutionality of it. if you did abolish this debt ceiling, you would pretty soon get yourself a downgrade. these rating agencies would say, your debt is just running away. you're not credit worthy. >> megyn: the debt ceiling is in place, it doesn't seem they trust our lawmakers to live within their moneys and with the money. when you look at 16.4 trillion, they're right, we're not living in our means. and there's a question, stu, you see that number, i think of my kids and think of my children. who is going to pay that number? it's probably not going to be me. >> right. >> megyn: it's probably going to
don't worry about it, it will work itself down the line and don't worry about the mounting debt and deficit. >> that's then and this is now. a debt as you pointed out 16.4 trillion dollars and rising constantly. we need a restraint on that debt. we cannot let it run away constantly. the and the debt ceiling is a restraint. what the democrats want is a blank check. i'm not sure it's constitutional because congress rules on the issue of money, not the executive branch. so, i'm not sure the...
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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we must make the hard choices to reduce the chosts of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [ cheers and applause ] for we remember the lessons of our past when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us at any time may face a job loss or a sudden illness or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things do not zap our initiative, they strengthen us. [ applause ] they do not make us a nation of takers, they free us to take the risks that make this country great. [ cheers and applause ] we, the people, still believe that our obligations as americans are not just to ourselves but to all poste
we must make the hard choices to reduce the chosts of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [ cheers and applause ] for we remember the lessons of our past when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the...
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the fact is though we can't finish the job of deficit reduction through spending cuts alone. the cuts we've already made to priorities other than medicare medicaid, social security and defense, mean that we spend on everything from education to public safety less as a share of our economy than has been true for a generation, and that's not a recipe for growth. so, we've got to do more both to stabilize our finances over the medium and long term but also spur more growth in the short term. now, i've said i'm open to making modest adjustments to programs like medicare to protect them for future generations, and i've also said that we need more revenue through tax reform by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. turns out, the american people agree with me. they listened to an entire year's debate over this issue and they ma
the fact is though we can't finish the job of deficit reduction through spending cuts alone. the cuts we've already made to priorities other than medicare medicaid, social security and defense, mean that we spend on everything from education to public safety less as a share of our economy than has been true for a generation, and that's not a recipe for growth. so, we've got to do more both to stabilize our finances over the medium and long term but also spur more growth in the short term. now,...